Hoodoo Hydrocarbons plans private placement for up to C$5 million

By Sheri Kasprzak

Atlanta, March 7 - Hoodoo Hydrocarbons Ltd. said it plans to raise up to C$5 million and at least C$1.7 million in a private placement.

The offering includes common shares priced at C$0.25 each and flow-through shares at C$0.30 each.

The precise pricing of the deal, which is being placed through agent Waterous Securities Inc., was not available Monday.

The deal is expected to close April 30.

In other news, the company said Ken MacRitchie has been named to its board of directors.

Calgary, Alta.-based Hoodoo is an oil and gas exploration, acquisition, exploitation and production company. The proceeds will be used for future exploration and development activities. The remainder will be used for general working capital.

On Monday, Hoodoo's stock closed unchanged at C$0.08.

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